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Saudi Tourism Authority Signs MoU to Boost International Marketing Strategies

Saudi Ministry of Tourism Building (File Photo AAWSAT AR)
Saudi Ministry of Tourism Building (File Photo AAWSAT AR)
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Saudi Tourism Authority Signs MoU to Boost International Marketing Strategies

Saudi Ministry of Tourism Building (File Photo AAWSAT AR)
Saudi Ministry of Tourism Building (File Photo AAWSAT AR)

The Saudi Tourism Authority (STA) has signed a memorandum of understanding (MoU) with a national marketing services company to strengthen its efforts to reach target audiences in international markets and solidify the Kingdom's standing on the global tourism map.
The MoU encompasses plans to conduct marketing studies for prominent content creators in international markets, SPA reported.

The initiative seeks to enhance STA's database and identify a select group of content creators to engage with during global promotional campaigns in 2025.
This step is part of STA's endeavour to raise awareness of the Kingdom's unique tourist destinations and highlight cultural, heritage, and natural experiences. The authority leverages innovative marketing strategies, focusing on international markets.
The MoU reflects the authority's commitment to developing the tourism sector in Saudi Arabia and achieving the objectives of Vision 2030, which aims to boost the sector's contribution to the GDP and diversify national income sources.

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Business

Oil Rises on Concern Over Escalating Middle East Tensions

HUNTINGTON BEACH, CALIFORNIA - APRIL 23: A pumpjack stands idle in the Huntington Beach oil field on April 23, 2026 in Huntington Beach, California. Mario Tama/Getty Images/AFP
HUNTINGTON BEACH, CALIFORNIA - APRIL 23: A pumpjack stands idle in the Huntington Beach oil field on April 23, 2026 in Huntington Beach, California. Mario Tama/Getty Images/AFP
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Oil Rises on Concern Over Escalating Middle East Tensions

HUNTINGTON BEACH, CALIFORNIA - APRIL 23: A pumpjack stands idle in the Huntington Beach oil field on April 23, 2026 in Huntington Beach, California. Mario Tama/Getty Images/AFP
HUNTINGTON BEACH, CALIFORNIA - APRIL 23: A pumpjack stands idle in the Huntington Beach oil field on April 23, 2026 in Huntington Beach, California. Mario Tama/Getty Images/AFP

Oil rose on Friday on concerns of a renewed military escalation in the Middle East after Iran released footage of commandos boarding a cargo ship in the Strait of Hormuz, and a lack of progress in re-opening the key waterway.

Navigation through the strait, which before the war carried about a fifth of global oil output, remains effectively blocked. Iran's capture of two cargo ships highlighted Washington's difficulties in trying to control the passage.

Brent crude futures were up $1.93, ⁠or 1.8%, to $107 a ⁠barrel at 0805 GMT, while US West Texas Intermediate futures were up 76 cents, or 0.8%, at $96.61, Reuters reported.

For the week, Brent is up 18% and WTI 15%, the second-largest weekly gains since the war began.

Both contracts settled more than 3% higher on Thursday after reports that air defenses were engaging targets over Tehran and of a ⁠power struggle between Iran's hardliners and moderates.

"There is no de-escalation in sight," said Tamas Varga of oil broker PVM.

US President Donald Trump said Iran may have loaded up its weaponry "a little bit" during a two-week ceasefire, but added that the US military could eliminate it in a single day. On Wednesday, he said he would indefinitely extend the ceasefire to allow for further peace talks.

The ceasefire is increasingly looking like a preparatory phase for more war, Haitong Futures said in a report. If peace talks fail to make ⁠progress by ⁠the end of April and fighting resumes, oil prices could climb to new highs for the year, it added.

"There's set to be fresh financial pain ahead as key shipments from the region remain blocked," said Susannah Streeter, chief investment strategist at UK investment service Wealth Club. "That is set to keep costs elevated for a vast array of commodities."

As investors and governments around the world look for a lasting peace, Trump said he would not set a "timetable" for ending the conflict and that he wanted to make "a great deal."

"Don't rush me," he said when asked how long he was willing to wait for a long-term deal.

Business

Saudi Arabia, Switzerland Sign Agreement on Reciprocal Protection of Investments

The agreement aims to strengthen and stabilize the investment environment, protect investors’ rights, and support the flow of mutual investments between the two countries. SPA
The agreement aims to strengthen and stabilize the investment environment, protect investors’ rights, and support the flow of mutual investments between the two countries. SPA
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Saudi Arabia, Switzerland Sign Agreement on Reciprocal Protection of Investments

The agreement aims to strengthen and stabilize the investment environment, protect investors’ rights, and support the flow of mutual investments between the two countries. SPA
The agreement aims to strengthen and stabilize the investment environment, protect investors’ rights, and support the flow of mutual investments between the two countries. SPA

Saudi Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah and Minister of Investment Fahad Al-Saif have participated in the Saudi-Swiss Investment Roundtable Meeting in Jeddah, which was followed by the signing of an investment agreement between the two countries.

The meeting took place in the presence of Swiss President Guy Parmelin, with the participation of State Secretary for Economic Affairs Helene Budliger Artieda, along with a large number of officials and business leaders from both sides.

During the meeting, the conferees reviewed joint investment opportunities, discussed ways to strengthen economic cooperation between the two countries, and explored the development of partnerships in priority sectors in a manner that supports economic growth and enhances relations.

The meeting was held on the sidelines of the Swiss President’s official visit to the Kingdom, as the two countries mark 70 years of diplomatic relations that have, from the outset, helped lay the foundations of cooperation and build a partnership based on mutual respect and the development of shared interests between the two states.

After the meeting, an agreement was signed between the Saudi government and the Swiss Federal Council on the promotion and reciprocal protection of investments.

It was signed on the Saudi side by Al-Saif, and on the Swiss side by Parmelin.

The agreement aims to strengthen and stabilize the investment environment, protect investors’ rights, and support the flow of mutual investments between the two countries.

The meeting was attended by Saudi Ambassador to Switzerland and the Principality of Liechtenstein Abdulrahman Aldawood.

Business

US Stocks Dip on Mixed Earnings as Markets Monitor Iran

A trader works on the floor of the New York Stock Exchange (NYSE) at the opening bell in New York on March 24, 2026. (Photo by ANGELA WEISS / AFP)
A trader works on the floor of the New York Stock Exchange (NYSE) at the opening bell in New York on March 24, 2026. (Photo by ANGELA WEISS / AFP)
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US Stocks Dip on Mixed Earnings as Markets Monitor Iran

A trader works on the floor of the New York Stock Exchange (NYSE) at the opening bell in New York on March 24, 2026. (Photo by ANGELA WEISS / AFP)
A trader works on the floor of the New York Stock Exchange (NYSE) at the opening bell in New York on March 24, 2026. (Photo by ANGELA WEISS / AFP)

Wall Street stocks retreated from records early Thursday as markets digested a trove of mixed earnings reports and monitored the latest dynamics between the United States and Iran.

Analysts cited profit-taking after both the S&P 500 and Nasdaq shrugged off a jump in oil prices to finish at records on Wednesday.

About 10 minutes into trading, the Dow Jones Industrial Average was down 0.4 percent at 49,311.39, AFP reported.

The broad-based S&P 500 dipped 0.2 percent to 7,126.19, while the tech-rich Nasdaq Composite Index declined 0.3 percent to 24,588.07.

David Morrison, senior market analyst at FCA, called Thursday's early trading action "a mild bout of profit-taking triggered by some worrying reports of hostile action between the US and Iran," according to a note.

The US Defense Department said its forces boarded a vessel in the Indian Ocean that was transporting oil from Iran, while President Donald Trump announced on social media that he ordered the Navy to "shoot and kill" boats placing mines in the Strait of Hormuz.

Iran vowed it would keep the strait closed to all but a trickle of approved vessels for as long as the United States blockaded its ports.

Among companies reporting results, Tesla fell 1.7 percent and Lockheed Martin dropped 3.7 percent, while American Airlines jumped 4.9 percent.